Capital Block of a company: 12% 5- year Redeemable Preference shares of Rs 100 each 200 lacs 15% 6- year Debentures of face value Rs 1000 300 lacs Equity shares of Rs 10 each 400 lacs Retained earnings 300 lacs Additional information Beta companys share is 0.80, the Corporate tax rate is 30%, the Dividend Distribution Tax is 15%. The average return on the Companys equity shares is 20%. The risk-free return is 8.5%. The floatation cost for share and debenture is 2% Assume the cost of retained earnings as one percent less than that of the cost of equity. Use YTM formula wherever required. Calculate the approximate Weighted Average Cost of Capital